Affiliate of Leonardo Trust Announces Acquisition of Common Shares of Forsys Metals Corp.

HAMILTON, BERMUDA--(Marketwired - May 18, 2016) - Leonardo Trust ("Leonardo") announced today that its wholly-owned subsidiary, Leonardo Global Trading Ltd., acquired ownership and control of 600,000 Class A Common Shares ("Common Shares") of Forsys Metals Corp. ("Forsys") on May 11, 2016, representing approximately 0.44% of the outstanding Common Shares. The Common Shares were acquired on the Toronto Stock Exchange at an average price of $0.06 per share for total consideration of $36,000.

Immediately before the acquisition of Common Shares, Leonardo and its affiliates had ownership and control over 62,978,004 Common Shares and warrants to acquire 7,576,500 Common Shares of Forsys. Assuming the exercise of the warrants held by Leonardo and its affiliates and no others, Leonardo and its affiliates had ownership and control over approximately 49.516% of the outstanding Common Shares on a partially diluted basis. Following the completion of the acquisition of Common Shares, Leonardo and its affiliates have ownership and control over 63,578,004 Common Shares and warrants to acquire 7,576,500 Common Shares of Forsys. Assuming the exercise of the warrants held by Leonardo and its affiliates and no others, Leonardo and its affiliates have ownership and control over approximately 49.937% of the outstanding Common Shares on a partially diluted basis.

Leonardo and its affiliates acquired the Common Shares for investment purposes. Leonardo and its affiliates may in the future, subject to regulatory constraints, take such actions in respect of their holdings of securities of Forsys as they may deem appropriate in light of the circumstances then existing, including the purchase of additional securities of Forsys through open market purchases or privately negotiated transactions or the sale of all or a portion of their securities of Forsys in the open market or in privately negotiated transactions to one or more purchasers.

Leonardo is relying on the exemption in Section 4.1 of National Instrument 62-104 Take-Over Bids and Issuer Bids with respect to the acquisition of Common Shares of Forsys described in this press release.